Russia's upper house of parliament has approved a bill that will simplify the procedure to register new political parties, part of a series of reforms promised by President Dmitry Medvedev aimed at diversifying the country's political system.

The Federation Council passed legislation Wednesday that reduces the minimum number of members required for registration from 40,000 to 500 people.

The reformed law includes other amendments that make it easier to register a party and is expected to open a floodgate to the rise of new political parties.

The measure is meant to appease the opposition, which has staged massive protests in the past few months against a system long-dominated by president-elect Vladimir Putin's United Russia and a handful of other parties.

It will give opposition parties a chance to establish themselves in local and regional elections later this year and challenge the ruling party. However, some analysts say a proliferation of parties may prevent a strong opposition party from emerging.

The bill will come into effect after President Medvedev signs it, which he is expected to do next week.